Indian Delegation Engages with UAE on Key Economic Corridor Project
An Indian inter-ministerial delegation recently visited the UAE to discuss the India-Middle East-Europe Economic Corridor (IMEEC) with key entities. This was the first visit since this framework agreement was signed. This visit underscores the importance both countries place on the IMEEC project, which aims to enhance cooperation and operational efficiency in the region.
The visit, took place just three months after the agreement was signed. This also highlights the urgency and commitment of both governments of UAE and INDIA to the IMEEC project.
The corridor is designed to offer alternative supply routes that boost efficiency and cut costs for the region. Both parties agreed to continue discussions to expedite the implementation of this agreement.
The Indian mission shared a post on their official social media, “The India Middle East Europe Corridor (IMEEC) is taking shape with the first visit of an Indian Inter-Ministerial Delegation to the UAE for the India-UAE Intergovernmental Framework Agreement on IMEEC. Ambassador Sunjay Sudhir led the discussions with key UAE entities including DP World, AD Ports Group, and UAE Customs.”
As per the agreement, IMEEC will consist of two main corridors:
The east corridor connects India to the Gulf, and the northern corridor links the Gulf to Europe. This setup aims to provide a reliable and cheap ship-to-rail transit network with secure maritime routes. This project is expected to enhance efficiency, reduce costs, secure supply chains, increase trade accessibility, foster economic cooperation, create jobs, and lower greenhouse gas emissions.
The project is important for Asia, Europe, and the Middle East nations. It will boost and spread new routes.
The Ministry of External Affairs of India highlighted that the IMEEC is still in the early stages of its development. They also confirmed that the Indian delegates visited the UAE from May 15 to 17 to advance the project IMEEC.
Recap about the agreement
The framework agreement was signed on February 13 in Abu Dhabi, in the presence of Indian Prime Minister Narendra Modi and UAE President Mohammed bin Zayed Al Nahyan.
Recently during the visit to Abu Dhabi, the team delegation included senior officials from the Ministry of Shipping, Ports & Waterways, Ministry of Commerce and Industry, Central Board of Excise and Customs, and Deendayal Upadhyay Port, Kandla.
They visited on a tour of the ports in the UAE, including Khalifa Port, Fujairah Port, and Jebel Ali Port, to discuss giving a start to the project and the movement of goods between India, the UAE, and other nations. This meeting was also held with UAE Customs authorities to streamline processes.
The visit is a major step towards realizing the importance of the IMEEC project, which aims to transform regional trade and economic integration between the UAE and other countries. UAE is playing an important role by providing a flexible and work-free environment to all delegates from India.
